Forensic Accounting in India (Future Prospects for Its Application)

Abstract

Financial reporting and auditing are often accused of leading to fraud and undermining user and decision-maker confidence in financial information. With the emergence of serious financial fraud problems from the end of the last century to the beginning of this century, the phenomenon of financial fraud has come under increased scrutiny. In the professional world, the Enron scandal led to the creation of new regulatory bodies and the birth of a new profession called forensic accounting (FA). We provide accounting, analytical and research expertise. Forensic accountants work to prevent, detect, and investigate fraud in financial
reporting. Originally, forensic accountants were hired by government agencies to investigate and resolve major fraud cases. They were later hired by management as financial investigators to investigate financial fraud and asset embezzlement. Forensic accounting has become popular in India in recent years (Satyam (post-fraud)). This research report discusses forensic accounting as a profession in India based on secondary data from various sources. I understand the need and responsibility of accounting. Understand the role of accounting in business and development.